Apple’s iRadio hits royalties snag
Apple’s much-anticipated music streaming service has hit a stumbling block as label owners are split over the terms for what industry executives have dubbed “iRadio”. Despite signing up Universal Music, the largest of the record label majors, the iPhone maker is still negotiating terms with Sony Music, the second-largest recorded music group, while it is close to reaching agreement with Warner Music according to people with knowledge of the discussions
Dubai Group wins loan leeway
Dubai Group has reached agreement with creditors to restructure $6bn of loans in a long-expected deal that should finally remove one of the emirate’s biggest debt problems. The group has been in negotiations with lenders since missing interest payments in 2010.
Eight charged over $45m thefts
US prosecutors have charged eight New York so-called cashers for their alleged role in a global cyber crime ring that caused $45m in losses from financial institutions and involved 26 countries
Boiler room arrests raise alert
At least seven people have been arrested as part of a crackdown on fraudsters that persuade vulnerable people to unlock money from their pension savings pots.
Slovenia’s crisis package
Slovenia pledged yesterday to raise VAT, restructure its banking system and privatise 15 state enterprises, including its flag-carrier airline, in an attempt to stave off an international bailout.
The Daily Telegraph
Balfour Beatty banks US bullet train
Balfour Beatty, the construction group, has won a $120m (£78m) contract extension for the controversial $68bn bullet train project in California.
Local growth bodies fear cuts to pot
New bodies charged with being the “engines of local growth” have urged the Prime Minister not to go back on a commitment to overhauling how they are funded.
THE WALL STREET JOURNAL
AT&T launches new prepaid venture
AT&T started a new foray into prepaid wireless service by launching a separate brand called Aio Wireless, in an attempt to target more data-centric prepaid users.
Good news for shipping market
A recent surge in new orders for some of the world’s biggest cargo ships has provided a glimmer of hope for the beleaguered global shipping market, which has been plagued by excess capacity and lacklustre trade.